IATV-ACTV Digital Convergence Software-HyperTV Message Board

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Technology Stocks : IATV-ACTV Digital Convergence Software-HyperTV

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To: StaggerLee who wrote (2049)	4/15/1999 10:18:00 AM
From: Mike Fredericks	Read Replies (2) of 13157

Unfortunately the market value isn't $400 million. It's $550 million. I'm not going to go into this, since it leads to party disruption here and nobody cares since we're in an uptrend. But this is another $38 million giveaway, if you ask me (ie, $150 million * 25%). What has TCI done to deserve this? $38 million is about $1.25 of foregone cash per share, for what it's worth. Nice job once again, guys. A) I care. B) Market cap isn't $550MM according to Yahoo, but Yahoo could certainly be wrong. C) I decided to do my own math to get an estimated strike price on the options. I came up with $16.40. Is this the "forgone cash" you're talking about (IE they could sell it on the open market for $18+/-, instead they sold for $16.40?) -Mike ------------- According to Yahoo - IATV = 472.3MM... At that time, Stock price = 18... so #shares = 26.2MM I believe that LMG already owned 7.5% of IATV? Correct that percentage if need be. 7.5% of 26.2MM = 1.965MM. Say 2MM shares. IATV must issue x new shares to sell to LMG so that: LMG's share (2MM + x) = 1/4 of shares outstanding (26.2MM + x) 8MM + 4x = 26.2MM + x 3x = 18.2MM x = approx 6.1MM shares They are selling these 6.1MM shares for $100MM 100MM/6.1MM = $16.4/sh

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